Akzo Nobel India share price jumps over 4% as firm to sell India business to JSW Paints
Akzo Nobel India share price in focus today: Shares of Akzo Nobel India popped up 4.2% in early trade on Friday, June 27, to reach ₹ 3,325 apiece after company promoters executed a Share Purchase Agreement to sell their entire shareholding in Akzo Nobel India to JSW Paints, Akzo Nobel said in its June 27 regulatory filing.
As per the latest shareholding data, Akzo Nobel India's promoters held a 74.76% stake in Akzo Nobel India as of March quarter, and they are selling their entire stake to JSW Paints. Imperial Chemical Industries, which currently holds a 50.46% stake in Akzo Nobel India, is among the sellers.
"Imperial Chemical Industries Limited and Akzo Nobel Coatings International B.V., the promoter entities of Akzo Nobel India Limited, have entered into a Share Purchase Agreement ("SPA") with JSW Paints Limited on June 27, 2025," Akzo Nobel said in its regulatory filing.
Under the Share Purchase Agreement (SPA) dated June 27, 2025, Imperial Chemical Industries Limited has agreed to sell up to its entire shareholding of 22,977,544 equity shares, representing 50.46% of Akzo Nobel India's paid-up equity share capital.
Similarly, has agreed to sell up to its entire holding of 11,066,791 equity shares, representing 24.30% of the company. JSW Paints has agreed to acquire all these shares from both sellers—referred to collectively as the 'Sale Shares'—as per the terms outlined in the SPA.
The deal values Akzo Nobel shares at ₹ 2,762 apiece, which is a 16% discount to Akzo Nobel's price on Thursday. Following this acquisition, JSW Paints is expected to gain sole control of the company, resulting in a change in management and ownership of the listed entity.
In accordance with SEBI regulations, JSW Paints will be required to make an open offer to public shareholders. Post-deal, JSW Paints may hold up to 75% of Akzo Nobel India's total shareholding.
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